The dollar's collapse is nearing. The European Union is planning to switch its payments to the Euro for its oil purchases from Iran, eliminating United States dollar transactions.
EU To DITCH The US Dollar In Payments For Iranian Oil
An asset backed currency, used by Russia and China, may be the biggest challenge to Emperor Dollar.
The US dollar is being challenged by China's oil-futures trading market that opened last month. That is because China is the world's largest importer of oil and the Saudis are a large exporter.
Use Gold As Proxy For The "True Value Of A Dollar"
The Petro Yuan is a Yuan denominated oil contract that is a competitor to the petro dollar.
Many believe deficit spending will kill the US dollar as a reserve currency and the yuan will take over. They are wrong. Economist Daniel Lacalle asks Can China Really Kill The US Dollar Supremacy?
US equity markets are down triple-digits this morning after the long weekend, the dollar is higher (having erased the post-CPI dump), and so are Treasury yields, but as former fund manager Richard Breslow notes, ...
Earlier this week, the bizarre, unexplainable, ongoing plunge in the dollar and US bond prices in the aftermath of the stronger than expected CPI print which also sent equities surging, prompted at least one trader at Citi to explode: "Wake Up Folks,